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Angle also had extensive discussions about progressive Confucianism with Chinese counterparts through a program of seven dialogues. "Many of them find the idea very engaging and inspiring," he said.

And like other megalopolises in China, Chengdu and Chongqing need to tackle regional administrative barriers. Local governments need to set up joint conference work mechanisms and work plans to coordinate development and resources.

Analysts from Morgan Stanley Huaxin Fund Management Co Ltd wrote in a note that Chinese people will allocate more of their household assets to equity investment in light of the low interest rate at the moment. As the market sentiment stabilizes, additional capital will continue to flow into the A-share market, which will bolster the positive, long-term outlook for the A-share market.

Analysts said the committee of China Securities Regulatory Commission (CSRC) which oversees new offerings, is more focused on specific conditions of different applicants.

Analysts said the lowering of restrictions would provide stock investors with the necessary risk management tools and bring in more capital from both domestic and overseas investors into the A-share market.